An Open Letter to the Presidents of All Washington State-Sponsored Universities

An Open Letter to the Presidents of All Washington State-Sponsored Universities

Presented at a Forum on Budget Cuts in Higher Education

Town Hall Seattle –February 1, 2012

Gentlemen:

You are here tonight to discuss among yourselves and the public draconian budget cuts both proposed and already enacted against all of the public universities in Washington State because of a supposed state budget deficit of $2.5 billion. The fact of the matter is, the declared stated budget deficit is fraudulent, reflecting only approximately one-third of the public monies of which the Washington State government is presently in possession, consistent with current fraudulent public accounting practice in America by most government entities. www.cafrman, www.cafr1.com, www.comprehensiveannualfinancialreport.com

Such a bank, like that which has existed in the State of North Dakota since 1919, would protect this state against depression and unemployment. It would likewise invest our public monies in that which would benefit the people of this state, including investment in higher education, not benefit the international banking cartel, predatory transnational corporations and foreign entities to which, other than US government bonds, 95% of WISB investments are directed. http://nowisthetime.us, www.sib.wa.gov

Of concern is the fact that the WISB is now not only investing our public money in opaque, exotic derivatives and credit default options (CDOs), the most unstable types of financial instruments now extant, but is diverting our public monies to foreign investments in predatory corporations that have committed crimes against nature and humanity. http://nowisthetime.uswww.sib.wa.gov Of concern is the fact that the Washington State legislature, while being fully apprised of the long-standing success of the Bank of North Dakota, has for the past two years failed to create the much-needed Washington state bank, claiming that this first warrants an “official study commission”, while its investment board has been investing in quasi-public banking entities overseas for years. Of concern is the fact that the Washington State legislature is failing to tax or hold sufficiently accountable those transnational corporations in which it has significant investments. Of further concern is the fact that the WISB was in 2006 behind Issue 4215, the unfortunately successful move to amend the Washington State constitution to allow private corporate investment of the monies from the state’s dedicated higher education fund that until then had been held safely in trust. This constitutional amendment, significantly, was passed less than two years before the Wall Street collapse and bank bailout of 2008, resulting in the beginning of the draconian state cuts to higher education now being discussed at this forum tonight. http://nowisthetime.us

Therefore, the most immediate remedy to these cuts to state higher education, both instituted and proposed, would be to divest the state pension and dedicated higher education funds of stock in the corrupt international banking cartel and predatory transnational corporations, to be used to eliminate the supposed state deficit, create a Washington state bank to invest the money of the people in the people of this state rather than everywhere else in the world, and provide immediate ample funding for higher education in the State of Washington, further augmented by proportionate taxing of all Washington State-based transnational and national corporations, including those in which the state government is invested.